Governmnet Announces Additonal Benefits to Exporters

The two-per cent interest subsidy on loans to exporters, which was to end on March 2013, has been extended for another year.

 More export goods have also been brought under the ambit of the scheme with engineering exports being the major beneficiary.

"Since 2008, the commerce ministry has given Rs 3,600 crore to RBI (Reserve Bank of India) to distribute among banks for carrying out the interest subvention scheme,"

 Merchandise shipments to the US, the European Union and the Asian markets will now qualify for additional concessions as exporters are facing a demand slump in these markets due to the economic slowdown.

Several countries, including New Zealand, Bulgaria, Taiwan and Thailand, were added under different export promotion schemes like Focus Market Scheme and Special Focus Market Scheme.

Courtesy - Business Today